another great example of wash, rinse, repeat… or micro-managing trades around multiple target levels. WLT was first posted as a setup on 9/12, broke out the next day on 9/13, then hit the first target the following day on 9/14, where a trader could have booked very quick partial or full profits (velocity). about a week ago i pointed out that the stock then pulled back to successfully re-test the bullish falling wedge pattern and prices started moving higher again, providing an objective new long entry or add-on for anyone still in the trade. today WLT has hit that T1 level again and is now up 12.5% since that trade update post last week.
although an active trader could again book quick profits here (redeploying those gains elsewhere), i do favor T3 on this trade for longer-term traders and investors. in fact, a solid move over the T1 level would look to propel WLT out of a very bullish looking base so this trade could still offer yet another objective entry here again (with a stop on a solid move back below T1). daily charts below:
